12/8/2014

“Phil’s in-depth experience and knowledge in representing clients before the Federal Energy Regulatory Commission (FERC) and the Commodity Futures Trading Commission (CFTC) expands the firm’s energy talent and offerings to clients,” said Buddy Clark, leader of the firm’s energy practice. “It is rare to find an attorney with such a commanding industry role combining Phil’s CFTC experience in the intricacies of Dodd-Frank, his FERC energy regulatory practice, and his extensive transactional knowledge in commodity trading and project finance and development. He is a great addition to our team.”

Lookadoo currently chairs the Dodd-Frank Working Group of the International Energy Credit Association (IECA), and speaks frequently before trade groups and bar associations. He also received the IECA Outstanding Allied Member Award in recognition of the hundreds of hours he has dedicated over the recent years to the IECA and the leadership of its Dodd-Frank Working Group - including filing of numerous formal comments with the CFTC on behalf of the IECA and its members. The award reflects the consensus of the IECA and is a direct result of “Phil’s temperament, leadership, and the high esteem in which he is held by the members.”

Early in his career, Lookadoo represented large interstate natural gas pipelines and major natural gas producers in regulatory ratemaking, certificate and rulemaking proceedings under the Natural Gas Act before the FERC. More recently, he has represented power plant developers and power marketers with their regulatory compliance requirements under the Federal Power Act before the FERC.

In the commodity trading space, Lookadoo works with all standardized master agreements (ISDA, EEI, NAESB, LEAP, etc.). He negotiates sophisticated hedging transactions (such as heat rate call options) to ensure the financial viability of fossil-fuel fired and renewable-energy power generation projects (which support project financing of such projects) and oil and gas production operations (which support borrowing base financing of such production). Lookadoo also works on credit support arrangements for such hedge transactions, including intercreditor agreements between senior lenders and hedge providers under which the lenders and the hedge providers agree to share, on a pari passu basis, a lien on the borrower’s power plant, renewable energy, oil, or natural gas assets.

Lookadoo’s arrival coincides with Haynes and Boone’s strategic addition of Houston-based Partner, Kirsten Polyansky, who offers experience in energy commodities, with a special focus on crude oil and refined products. Her recent representative experience includes serving as lead deal counsel for a major international institution, where she negotiated, executed and supported several true sale inventory monetization deals. She also represented a large bank to effectively “monetize” rail cars for a firm client, which supported a second firm client to supply crude oil to the East Coast from North Dakota and Canada.

Haynes and Boone’s Energy Practice Group is comprised of more than 75 attorneys, professional landmen and senior energy market analysts with diverse backgrounds, experiences and skill sets specific to the energy industry. The practice group members’ experience spans decades of active participation in the energy industry with a depth of practice that includes upstream, midstream and downstream oil, natural gas and natural gas liquids; natural gas transportation, liquefaction, regasification, and marketing; electric power generation, transmission, tolling agreements, wholesale and retail marketing transactions, and regulatory compliance with state commission, FERC, ISOs and RTOs requirements; and related commodity hedging transactions.

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